Philadelphia, PA: A complaint has been filed in the United States District Court for the District of New Jersey on behalf of all New Jersey homeowners whose mortgage loans have been serviced by CitiMortgage, Inc., and who, since April 13, 2009, (1) have entered into a Trial Period Plan ("TPP") contract with CitiMortgage and made all payments required by their TPP contract, but (2) have been denied a permanent loan modification agreement that complied with the U.S. Department of the Treasury's Home Affordable Modification Program ("HAMP") rules.
The Complaint alleges that CitiMortgage accepted billions in government bailout money under the Troubled Asset Relief Program ("TARP") earmarked to help struggling homeowners avoid foreclosure. CitiMortgage, like other TARP-funded financial institutions, is contractually obligated to modify mortgage loans it services for homeowners who qualify under HAMP, a federal program designed to abate the foreclosure crisis by providing mortgage loan modifications to eligible homeowners.
According to the lawsuit, CitiMortgage systematically slows or thwarts homeowners' requests to modify mortgages, depriving borrowers of federal bailout funds that could save them from foreclosure. The bank ends up reaping the financial benefits provided by TARP-funds and also collects higher fees and interest rates associated with stressed home loans.
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We tried several times for a loan modification from Citi. Sent paper work several times as they kept replying stating they never received the documents we submitted. Was forced into foreclosure but filed bankruptcy instead.
To date Citi has been applying payments incorrectly which in turn we received threats from their attorney stating they will foreclosure I spend days submitting bank statements to show all mortgage payments withdrawn from Citi, pay my attorney several hundred to fight yet again for me.
Posted by Bill B
I was in a remodification with two duplexes. Obviously had a lot of equity having had them over 15 years. Now someone from citi would come by my apartments every month to tell my tenants I was behind on my loan. That caused a lot of trouble for me as tenants would call thinking they had to move. Lost two tenants b/c of this type tactics. would LIKE TO FIND ATTORNEY THIS WAS WRONG
Posted by David M Felton
I dont have a loan modification but i just refinanced my house after paying 11 years on my 30 year mortgage. I looked at the equity and after paying about $90,000 toward the loan I have only $8000 in equity.. Can this be possible? I know a 30 year mortgage is not the way to go but this is rediculous.
Posted by Chelle
Citi has cheated me for YEARS! When I filed Ch13 in 2010, they were NOT part of the payment program, yet they have my account(s) locked in Bankruptcy status the past 8 years (Ch13 discharged in 2015). I have been repeatedly turned down for any refinance programs; they have refused to allow me to refinance my ridiculous 7.25%. Just recently they said the best they could do was offer a 3.99% 1-yr introductory rate which switched to a 6.25% variable. My original loan is over 10 yrs old & I have never defaulted/been late & my credit is now in good standing. They have quite the scam going to hold mortgage holders hostage in their high % loans. Avoid CITI by all means possible. If you're loan gets sold to them - REFINANCE!!!
Posted by Chelle
Citi has lied to me for YEARS! When I filed Ch13 in 2010, they were NOT part of the payment program, yet they have had my account(s) locked in Bankruptcy status since (I was discharged in 2015). They have refused to allow me to refinance my ridiculous 7.25% and just recently said the best they could do was offer a 3.99% 1-yr introductory rate which switched to a 6.25% variable after the 1st year. My original loan is over 10 yrs old & I have never defaulted/been late & my credit is in good standing. They have quite the scam going to hold mortgage holders hostage in their loans.
Posted by Syzan
Has anyone had an issus regarding a HUD subordinate mortgage. I just got a bill in thee mail from HUD stating I owed 12000.00. I sold my house 6 months ago and the new servicer of my mortgage did nor pay off lein
Posted by Rosa Coleman
Citi mortgage charged me $840.00 for legal services that were never provided. My loan went into foreclosure status- I forwarded the amount due to Citi 3 days late. They sent the file to Law firms and the lawyers tacked on another $840.00 for legal services on the same day they got the file. The required me to pay this additional $840.00 although NO LEGAL SERVICES had been performed. So Citi Mortgage is passing on charges to the consumer for bogus legal services. I thinks this has been going on for years to many consumers. I have requested a break down of the legal services performed --NO ANSWER from either. If you had this happen to you please provide your information. This should be a CLASS ACTION SUIT against Citi Mortgage,
Posted by Robert coots
Purchased home in 2002 borrowed 69,000.00 refinanced in 2006. Loan was through ABN amri mortgage, they sold to CitiMirtgage same year refinanced. In 2007 I suffered a brain bleed and stroke. city mortgage said we did not reaffirm them in bankruptcy. How could we, we reaffirmed ABM. Also said we had no disability. My only advice was to pay late and never go over two months late. Here we are 2017 and I still owe over 50,000. Just keeps telling me we may not be responsible for note due to bankruptcy. I am also blocked from any online management of my loan due to bankruptcy. My note was under 400.00 when first gotten. Now it's 539.00. I honestly feel like they owe me for 7 months I was unable to work. And another 3 months after my heart attack. And online access. They have bent over backwards to block insurance payments from flood claims. Its a shame that these companies can get away with this kind of abuse.
Posted by Catharine Knoblauch
My mother and father have a home they were purchasing and citifincial was their loan company. Citifincial made my parents pay for extra insurance, that they said would pay off the total cost of the mortgage if either one were to become disabled or pass away. My mom became disabled and the insurance papers were filed. My mother and father fought with citifincial for months and faxed paperwork and doctors documentation to citifincial on a daily basis. It cost my parents 12.00 every time the use a public fax machine so it cost my parents around 1000.00 just to keep sending them all this paperwork. After all was said and done citifincial said that they never received all the correct paperwork or the payment for the insurance so it was cancelled. How was it cancelled when it kept appearing on their escrow bill. Then just recently citifincial sold my parents loan to bayview and I found out that in 23 years my parents have been paying citifincial interest only. My parents have only been able to pay 2,800 off of the principal amount in 23 years. It was a 30 year mortgage. They made their payments every month. How does a 30,000.00 loan only go down 2,800 in 23 years of consonstantly making payments. And how do they get out of the insurance payout.
Posted by Michelle Acosta
CitiMortgage stole my house of nearly 14 years back in 2013 while I was in a loan modification application status that they strong armed me for. When I was able to catch up on the past due payments, they threw me in foreclosure for not including their late fees and refused to give me a repayment plan for $1200 in late fees. They stole my house, leaving my three kids & I homeless, bouncing around and ultimately separated. I know I'm just another person wronged by this company and if they knew all the details of the ramifications of their choice, they still wouldn't even care, because they're not losing sleep at night in their nice cozy homes. I pray for justice for not only myself but for every person who has had their home wrongfully foreclosed on,
Posted by Junior LOwhar
After falling behind on my mortgage payment I asked the bank for a loan modification and was turned down, needless to say they also went ahead and ruined my credit with the credit reporting companies.
Posted by Julie csukardi
Citi lied to me.
Posted by Bob Stein
After being behind on payments for only 3 months I contacted Citi for a solution and they said not to make payments and file for a modification. Needless to say there hidden agenda was to acquire my house through foreclosure. I am now almost five years later with arrears beyond affordable, no modification in sight ,one foreclosure notice that required bankruptcy to stop. Still no modification in sight and no alternative options from them. I was forced to relocate in order not to be homeless and now they're using that against me. I am hoping to file a lawsuit against Citi for damages if I can find a contingency attorney.
Posted by GBF
I was denied a loan modification through Citimortgage. They said I was not eligible because I was current on my loan and had never missed any payments. They said I must miss 3 payments before they could help. Thankfully I valued my credit score and didn't do it!
Posted by Michelle Conway
CitiMortgage processed foreclosure proceedings in April, 2015 whie I continued to pay an agreed monthly amount to CitiMortgage. I was current with the regular monthly mortgage payments to CitiMortgage when I entered the unemployment forebearance program. I was unexpectedly terminated from my previous job after being injured on the job. Theses injuries also required surgery and physical therapy. I was always in touch with my assigned housing specialist advising of my financial updates. Assuring her that I have all intentions of psying the past due amounts as well as making actual monthly payments. I also sent an update income verification that money will be on a schedule to be paid to me. CitiMortgage sent letters Jan thru February that my information was received for review. March 17,2015 I received a letter stating no contact from me and the entire pastdue amount is due to avoid foreclosure. I was told by a CitiMortgage representative the 2013 signed tax return was not received. I have a scanned copy of the tax return on January 20th, 2013 that CitiMortgage entered the return in the records. I also have a recording that a CitiMortgage representative said the return was receivedl. I received court documents and went to court June 2015 along with a foreclosure attorney to prevent being homeless. Also contacting my local senators office is really what helped. Without them no home. CitiMortgage also added two to three tittle fees inspection fees reinstatement fees court fees and attorney fees were added . I never received a denial that the Unemployment forebearance program was not going to be extended. The housing specialist never advised that my property was being prepared for forclosure. I never missed a month not paying CitiMortgage. Dealing with this company has been a mental nightmare. I wish everybody going thru it with CitiMortgage CitiBank or institutions with workers fattening their pockets at others expense. I always say nothing positive comes from negative energy.
Posted by ANIT SUMNER
MY HUSBAND SUFFERED A STROKE AND WAS A ENGINEER WE WENT THROUGH THE MODIFICATION PROCESS AND THEY TOLD USE TO SKIP THREE MONTHS I WAS LEARY MY HUSBAND IS LAYING IN A HOSPITIAL BED IN OUR LIVING ROOM WE WENT FROM MAKING 85,000 TO MY 900 .00 SOCIAL SECURITY OVER NIGHT HE WAS PARALYZED THE PUT US IN FORCLOSURE AND WE HAD TO PAY 9000. AT THE END OF THE MODICATION ,I WROTE MY SENATOR AND CONGRESSMEN AND CALLED THEM EVERY DAY HAD IT NOT BEEN FOR THE CHURCH WE WOULD OF LOST OUR HOME WE GOT THE MODICATION BUT WITH A 9000 PRICE TAG I BURIED MY HUSBAND A FEW MONTHS LATER IM SURE THE STRESS OF US HAVING NO WHERE TO LIVE TOOK A TOAL TOO THIS IS WRONG AND NEEDS TO BE EXPOSED
Posted by Susan Lazzaro
I have been fighting with CitiMortgage for 5 years and have been paying a lawyer for that long. They have denied me a loan modification 3 times and when I offered to pay all interest I owed along with penalties and finance charges and then to continue my loan where I left off they turned down my offer wanted all or none.
Now I have been threaten with them suing me for the full amount of my loan or lose my house. They only way to save it was to enter into this trial period where they doubled the amount of my monthly payment, doubled the length of my loan and doubled the interest rate.
I had worked extremely hard over the past 3 years 100+ hours a week and have out priced myself for a decent modification. However I cannot keep up with this pace and will eventually have to give up one or two of my 4 jobs and I will end up defaulting on this new loan they gave me.
Posted by Donna Yetto
I lost my house after making the trial payments, instead of lowering my interest rate, which I owed 120,000, they sold it for 32,000. It has been sitting empty for the past 2 years. That really helped the community..........
Posted by Audrey Watkins-Kizee
We were denied a modification by CitiMortgage after we paid 10 months of trial payments and sent in all paperwork. Now our house is in foreclosure.
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